Airbnb has unveiled changes in its executive team. Dave Stephenson, the current Chief Financial Officer, is set to assume the role of Chief Business Officer, a newly created position. His appointment will be effective from January 2. In addition, Ellie Mertz, currently the VP of Finance, will succeed Stephenson as CFO effective March 1st.
Catherine Powell, who took charge as the global head of hosting in July 2020, has chosen to transition to an advisory position and will depart from Airbnb in the coming year.
Regarding Catherine Powell’s departure, CEO Brian Chesky informed employees in a shared email that Powell, who assumed the global head of hosting role in July 2020, will transition to an advisory role and will depart by the end of the following year.
Stephenson will now oversee various internal teams, except for the community team, previously under Powell’s supervision. The company does not intend to designate a replacement for Powell.
Airbnb’s recent CFO reorganization follows concerns from some investors after the company cautioned about a potential slowdown in room night growth for the fourth quarter. Stephenson’s focus on international expansion will be pivotal for the company, given the identified priority.
Starting January 2, Stephenson will spearhead the expansion of Airbnb’s core home business, drive international growth, enhance host supply, and oversee corporate development. The regional heads of Airbnb’s business units across the Americas, Asia Pacific, Europe, Middle East, and Africa will report to Stephenson.
Ellie Mertz, the incoming CFO, has been associated with Airbnb since 2013 and assumed the role of VP of Finance in early 2019. Mertz previously served as interim CFO for a year before Stephenson’s tenure. Chesky credited Mertz with overseeing Airbnb’s IPO in his communication to the employees.
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